Correct approach to hip topology?
Personally I would recommend something like this:


(Granted, this is a low poly character that contains triangles. You don't want triangles in a mesh that will be using subsurface. However, it forms the general shape.)

(FYI Here's a page linking to a bunch of examples of body topology: Polycount wiki: Body Topology), and of course, there's always Blender Cookie (archive).